HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

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Message: Sunday?

Sunday?  Seems incorrect if this is business days?

BHP has five business days from receiving notice of the superior proposal in accordance with the terms of the Support Agreement to negotiate with Noront, should BHP decide to do so, to amend the terms of the existing Support Agreement such that the Wyloo Offer is no longer considered by the Noront Board of Directors to be superior to the amended BHP offer.

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https://www.saultstar.com/news/local-news/time-ticking-for-bhp-to-match-offer-for-noront

Time ticking for BHP to match offer for Noront

Author of the article:
Brian Kelly
Publishing date:
Dec 21, 2021  •  2 minutes ago  •  1 minute read  •   Join the conversation
Courtesy of Noront Resources: Ring of Fire map showing the mining area in relation to the rest of Northern Ontario. ORG XMIT: POS1808281749508827 ORG XMIT: POS1903071926102492 SunMedia

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BHP has until Sunday to match an offer to take over ownership of Noront Resources.

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Wyloo Metals boosted its bid for the Toronto-based company to $1.10 a share on Dec. 14.

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Shareholders can take the cash or choose to hold on to their shares if Wyloo Metals takes over Noront.Wyloo already owns 37 per cent of Noront’s shares.

“Battery and hydrogen technology are unleashing the full potential of renewable energy and the supply of critical metals simply isn’t keeping up,” said Luca Giacovazzi, head of Wyloo Metals in a release. “The Ring of Fire is home to expansive deposits of these metals, making this a once-in-a-generation opportunity to be part of the green revolution. Working hand-in-hand with First Nation and regional partners, we’ll develop the Ring of Fire into one of Ontario’s great mineral districts that will be pivotal in the world’s transition to a lower carbon future.”

Noront owns the Ring of Fire, containing nickel, copper, platinum and palladium, in the James Bay Lowlands. The company announced in 2019 its plans to build a ferrochrome processing facility in Sault Ste. Marie.

Wyloo says Noront “will be revitalized” with a new board “featuring some of the board’s most experienced mining leaders.”

Shares of Noront (TSXV: NOT) closed at $1.08 on Monday.

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